This Week’s Guest:
There are thousands of ways to make money online, the simplest of which do not involve marketing knowledge. One significant exception is arbitrage, where you leverage the power of a brand or product that people already know about and want. You find it at a better price, sell it to a pre-existing market, and profit from the difference. This makes it one of the simplest ways for someone to get started making money online.
On this episode, I’m joined by not one, but two industry insiders who are going to give us a behind-the-scenes tour of the world of arbitrage, which simply involves buying low and selling high. Jon Shugart is an entrepreneur at heart and a computer programmer by trade. He’s also a master at webinar marketing who was on one of the very earliest episodes of Marketing Speak. Luke Sample is a serial internet entrepreneur and black hat SEO. Together, they are the co-creators of BookTrades Biz. If you’re ready to learn how to build an internet empire from anywhere in the world, this is the episode for you!
Find Out More About Jon and Luke Here:
In This Episode:
- [02:02] – Jon and Luke talk about arbitrage as a revenue model and how it compares to affiliate marketing.
- [05:21] – Arbitrage has been around for a long time as far as the internet is concerned, Stephan points out. Luke then talks about whether this kind of arbitrage is still around, and Jon points out that there was a big push over the last few years to arbitrage native ads.
- [07:30] – Jon defines native advertising for listeners who may not be familiar with the term, then finishes off his idea about native ads.
- [10:53] – Stephan gives an example of a non-obvious thing that you can arbitrage.
- [13:15] – Luke tells the story of how he and Jon got into the textbook industry.
- [19:00] – Is it possible to send purchased books directly to the place offering trade-in, or do you have to take possession of it?
- [20:25] – Jon talks about how long it takes to make a decent income off of the textbook market, considering each transaction is for relatively low amounts.
- [25:00] – We hear about whether Jon and Luke have friends or family members doing textbook arbitrage since it’s basically a guaranteed way to make money.
- [29:48] – Why did Luke and Jon turn this into a service rather than just building an arbitrage business themselves?
- [33:04] – The key for Luke and Jon is that they’re continually innovating, Luke points out, which makes it a win for everybody.
- [34:21] – We hear whether Luke and Jon offer a prep service for their customers.
- [37:57] – Jon gives a rundown of what they offer listeners, in response to Stephan’s point that one needs a fair amount of information upfront.
- [40:11] – The program has a secret Facebook group where people have a sense of camaraderie and generosity that’s unusual in other industries.
- [42:11] – Is there an MLM component to the program?
- [44:10] – We hear about the next step for a listener who is interested in learning more or taking part in this program. If you’re interested, head to this link!
- [45:13] – What would be Jon and Luke’s parting advice for someone in terms of arbitrage or looking beyond traditional affiliate marketing?
Links and Resources:
- BookTrades Biz
- Jon Shugart
- Jon Shugart on Twitter
- Jon Shugart on Facebook
- Jon Shugart on LinkedIn
- Luke Sample
- Luke Sample on Facebook
- Luke Sample on LinkedIn
- Jon Shugart on Marketing Speak
- Traffic and Conversion Summit
- BookTrades Biz special link for Marketing Speak listeners
Your Checklist of Actions to Take
☑ Learn about the different types of strategies in marketing and find what truly works for making money.
☑ Use arbitrage to leverage the different sets of supply and demand happening in my area.
☑ Find products that I can buy low and sell high. I can start a business without having to invest too much money.
☑ Take advantage of affiliate marketing. This involves sharing business and product information in exchange for a commission on sales.
☑ Create a foolproof marketing system that can help me take the right steps to implement my strategies.
☑ Continue to innovate by staying on top of trend updates and customer feedback.
☑ Develop a community of supportive people who are willing to talk about my business and become affiliate marketers.
☑ Share updates, tips and answer questions on Facebook Groups. Make this one of my standard means of communication so that I can reach a majority of my customers.
☑ Don’t forget to give back and avoid the “dog eat dog” mentality. Teach and share my knowledge with others.
☑ Get the special Marketing Speak training offer on BookTrades Biz and start learning how to arbitrage now.
S: In this episode number 132, a couple of industry insiders are gonna give us a behind-the-scenes tour of the fascinating world of BizOp, business opportunities, as well as arbitrage, in other words, buying low and selling high. The dynamic duo on today’s show is gonna be be Jon Shugart and Luke Sample. Jon is an entrepreneur at heart and a computer programmer by trade. He’s a master at webinar marketing, in fact, he was on this show already at episode number six–it’s a must listen, by the way. Jon has made millions online using webinars. Luke is a serial internet entrepreneur and blackhat SEO known widely by his nickname, LamboLuke. Yes, he happens to be a passionate owner of multiple Lamborghinis. Together, they are the the co-creators of booktrades.biz formerly known as Textbook Money. Jon and Luke built this eight figure business from scratch and are going to share how they did it and how you can too–build your own internet empire anywhere in the world with just online tools. Luke and Jon, welcome to the show.
L: Thanks for having us.
S: For sure. Jon, I’ve had you on before. That episode is still fantastic and worth listening to, that was all about webinar best practices, you can get more sales through webinars. In this episode, we’re going to be focusing on arbitrage as a way to make money online. There’s a lot to talk about affiliate marketing but this is another way that could actually be even more lucrative, you don’t have to be a super affiliate, you could be an expert on arbitrage. Let’s talk about this, where does this business model or revenue model come from in terms of online marketing and how does it compare to affiliate?
J: Both Luke and I are on, I don’t want us to stomp on each other. I’ll take a stab and then Luke, I’ll let you fill in any details that I missed. Basically, when it comes to making money online, there are thousands and thousands of different ways to do it, nuances and all kinds of methods. What’s the simplest method? If you’re getting started and trying to figure something out, it’s the one that you can remove, all the different pieces that are involved with online marketing. Meaning, do you have to actually market? Most people, if they go and create a product or even do affiliate marketing, they actually have to know how to market something and be a marketer, drive traffic and things like that. When you get into arbitrage, what you’re doing is you’re leveraging the power of a brand or maybe another product that people already want and know about. All you’re doing is finding it at a better price and then profiting from the difference in what you can sell it to that market for. When we looked at all the different models, because we’ve tried them all pretty much, this is one of the simplest ways for someone to get started making money online. But the beautiful thing is you can go pretty deep. Luke, you wanna add anything to that?
L: I think you hit on the big point there which is there are several ways to do it. Jon and I have been doing this for almost 20 years, he said almost everything from affiliate marketing to owning our own products.